Paramount Global to Pursue Simultaneous Talks with Sony/Apollo and Skydance as M&A Drama Drags On
variety.comCynthia Littleton Business Editor Paramount Global goes back to playing the field this week with two suitors still pursuing the company that has been surrounded by a highly public M&A drama for months.
And it’s unlikely to end any time soon. The company reached the end of its 30-day exclusive negotiating window with Skydance Media on May 3 without coming to an agreement.
Sony Pictures Entertainment and Apollo Global Management, meanwhile, are moving forward with a $26 billion all-cash offer that raises regulatory and political concerns in this election-year environment.
The special committee of Paramount Global’s board of directors that has been handling the M&A negotiations now intends to proceed with discussions with both the Skydance and Sony/Apollo groups, as reported Sunday by the New York Times and confirmed by multiple sources.
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